This week will be a short trading week for US markets. It will close on Thurs and open half day on Fri for Thanksgiving Day.

As a trader, I will try not to have any position for a short trading week. Volume will be thin and most traders will exit early their position to have a lengthen holiday.

On Fri, Dow Jones and S&P 500 set another record high.

The month of December has been the best month for Dow Jones and S&P since 1950.

Let's look at US market charts and focus what they are telling us…..

S&P 500

S&P 500 closed at 2,063.5 points, up 23.68 points for the week.

It is about 12.7% return since the starting of 2014. This is amazing.

Dow Jones Industrial

Dow Jones closed at 17,810.06 points, up 175.32 points for the week.

It is about 8.3% return since the starting of 2014. Not so bad!

NASDAQ

NASDAQ closed at 4,712.97 points, up 24.43 points for the week.

It is about 13.76% return since the starting of 2014. This is amazing!

In summary, all the 3 indices daily chart MACD Histogram is ticking down but all-important intermediate trend remains bullish.

I am a caution bull!

Enjoy while it lasts!

Best wishes,

Divergence Trader Francis.

Disclaimer: This blog is created for the sole purpose of education, discussion and knowledge sharing. All charts and information can be obtained freely from the internet. All analysis are based on my own personal view and years of experience. It should not be used as a decision to solicit buy/sell activity. Use all information at your own discretion and practice due diligence.

The post This rally has legs – US Market Review 24/11/14 appeared first on Divergence Trader.